Daily Lessons from Life 19 June 2018 - Real trade war coming?
"Trump threatens extra tariffs on US$200b of Chinese goods
WASHINGTON: U.S. President Donald Trump threatened to impose a 10 per cent tariff on US$200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world's two biggest economies.
Trump's latest move, as Washington fights trade battles on several fronts, was unexpectedly swift and sharp.
It was retaliation, he said, for China's decision to raise tariffs on $50 billion in U.S. goods, which came after Trump announced similar tariffs on Chinese goods on Friday (Jun 15).
China imported $129.89 billion of U.S. goods last year, while the U.S. purchased $505.47 billion of Chinese products, according to U.S. data.
Derek Scissors, a China scholar at the American Enterprise Institute, a Washington think tank, said that means China will soon run out of imports of U.S. goods on which to impose retaliatory tariffs.
China was unlikely change its industrial policies in response to the U.S. trade threats, he said. That could take a long and painful trade fight.
"As I've said from the beginning, China will back off its industrial plans only when U.S. trade measures are large and lasting enough to threaten the influx of foreign exchange. Not due to announcements," he said."
The key words r: China imports MUCH less than its export to the USA. There goes its power of negotiation!! It is that simple if hard balls r played!!
If Trump's complaints abt how china is forcing US companies to "share" their IPs through coercion in exchange for their access to the Chinese market is TRUE, there is no reasonable excuses for china to fall back on.
It just revealed the jey weaknesses of China technologies development. It has to continue to pay a premiums for the US technologies it does not possess while accelerte its own home grown technologies.
Those companies that hv significant businesses in both countries will lose out big time! While those that focused on the respective domestic market will survive the trade war!
Of course growth will disappear, just surviving is already great performance in that trade war situation!!
Will the threats from BOTH sides really get carried out? Still uncertain! Let's hope it would happen!!
I finished in 6hrs50mins in 2015 SCMS. Worst of the 8th attempts!
My 2016 Resolutions
1 Life Long Pursuit always: - at personal level, to be a good father, husband, son, friend and human being; - at work level, to be a professional; practising the 7e Way of leaders;
2 To continue the holistic healthy lifestyle of 'eating right and exercising regularly' so as to keep the weight at 70-71kg and off HBP medication;
3 To continue to find ways to promote the 7e Way of Leaders, to generate revenue from at least 3 sources, and to get article published in established publications;
4 To continue to contribute as Volunteer Probation Officer (VPO) with the Probation Services Branch; as Senior Health Ambassador (SHA) for Health Promotion Board (HPB); and some other Volunteer opportunities.
5 To invest wiser and trade wisely to profit from an extremely challenging 2016;
6 To complete the 2016 SCMS on 04 December 2016 under 6.5hrs and raise at least S$5.9k for Singapore Cancer Society!;
7 To always has space for the Unexpected.
Have your visited the www.7eleadership.com website?
2010 Tour of Amsterdam/Brussels/Paris/Lucerne/Cologne
Family Outside Versailles Palace, France
2009 Dec Tawian Holidays
Four of my Most Important People
2008 Dec HkgMacauHolidays
HawNgee, ZJ and Jun in JAWs!
Lu's Marathon on 7 Dec 2014
I did it 6hr19sec for the 7th time!
Lu's Marathon on 1 Dec 2013
I did it in 6.16. Worst than 2012 of 6.05 and > Target of 6hrs. Still, I will take it! :-)
Lu's Marathon on 2 Dec 2012
5th Time 6.06 > Goal of 6hrs
Lu's Marathon on 4 Dec 2011
I did it again in 5hrs53min05sec!
Lu's Marathon 05 Dec 2010
I completed my 3rd Marathon - 6hrs 24mins
Lu's Marathon 06 Dec 2009
I Did It AGAIN at 6hr20mins!!
Lu's Marathon 07 Dec 2008
I Dit It! 42.195km in 5hr 53Min 34Sec. My 1st Marathon at 51+ Years Old